Coforge Limited , a leading global IT solutions organization, has announced a significant change in its administrative operations. The company is in the process of transitioning its Registrar and Share Transfer Agent (RTA) services from Alankit Assignments Limited to MUFG Intime India Private Limited.

Transition Details

The transition is currently underway. Coforge has provided an update on the process through a recent corporate filing. Here are the key points of the transition:

Interim Arrangements

During this transitional phase, Coforge has made arrangements to ensure uninterrupted services to its shareholders:

• Alankit Assignments Limited will continue to provide RTA services until the transition is complete.
• The continuity of service will remain until the database and electronic connectivity are fully shifted to MUFG Intime India Private Limited.
• Confirmations from both depositories are pending regarding the completion of the shift.

Impact on Shareholders

Shareholders of Coforge Limited need not take any immediate action at this time. The company has assured that it will notify all relevant parties once the revised effective date for the complete transition is finalized.

Company's Statement

In its communication to the stock exchanges, Coforge stated, "We will notify you of the revised effective date in due course." This indicates the company's commitment to keeping its shareholders and the market informed about the progress of this administrative change.

Conclusion

This transition in RTA services is a significant corporate action for Coforge Limited. While it may not directly impact the company's business operations, it is an important administrative change that ensures the smooth management of shareholder services. Investors and shareholders are advised to stay tuned for further updates from the company regarding the completion of this transition.

Coforge Limited , a global digital services and solutions provider, has received a significant boost to its credit profile. CRISIL Ratings Limited, a leading credit rating agency in India, has upgraded Coforge's long-term issuer rating and reaffirmed its short-term rating.

Rating Upgrade Details

The upgrade in the long-term issuer rating from 'CRISIL AA/Positive' to 'CRISIL AA+/Stable' represents a significant improvement in CRISIL's assessment of Coforge's creditworthiness. The 'Stable' outlook suggests that CRISIL expects Coforge to maintain its improved credit profile in the near to medium term.

Implications of the Rating Upgrade

The rating upgrade may have several positive implications for Coforge:

1. Enhanced Financial Credibility: The higher rating could potentially improve Coforge's standing in financial markets.
2. Potential Cost Benefits: A better credit rating might lead to more favorable borrowing terms, potentially reducing the company's cost of capital.
3. Investor Confidence: The upgrade may boost investor confidence in Coforge's financial stability and growth prospects.

Company's Response

Coforge has accepted the updated ratings, as required by CRISIL. In compliance with regulatory requirements, the company has promptly communicated this rating revision to both the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) where its shares are listed.

This credit rating upgrade comes as a positive development for Coforge, potentially reflecting the company's strong financial performance and stable business outlook.